KfW IPEX-Bank: Syndicated financing of USD 2 billion for German plant engineering exports to Reliance Industries Limited in India

Frankfurt am Main (ots) –

– KfW IPEX-Bank structures syndicated financing amounting to USD 2
– Reliance Industries Ltd. as borrower plans to expand production
at four locations in India
– Transaction has great relevance for German plant engineering
sector: expected delivery volume of up to EUR 1.6 billion

An international consortium of banks headed by KfW IPEX-Bank is
supporting Reliance Industries Limited (RIL) of India with a loan of
USD 2 billion for a comprehensive expansion project. This comprises
the simultaneous expansion of production at four company locations in
India. The loan agreement is covered by an export credit guarantee of
the Federal Republic of Germany and serves to finance substantial
deliveries of modern plant engineering equipment from Germany.
Negotiations with the nearly 40 exporters are already at an advanced
stage and indicate an expected German delivery volume of up to EUR
1.6 billion for the Indian expansion project. „With this financing we
are also supporting a number of medium-sized exporters, thereby
helping secure jobs in Germany. We are pleased to be offering clients
a financing arrangement with an extraordinarily large framework
cover,“ commented Markus Scheer, member of the Management Board of
KfW IPEX-Bank, upon closing the deal. The loan has a term of 13 years
and is structured in equal shares of euro and US-dollars. The
transaction is among the largest Hermes guarantees to have been
provided in recent years. Part of the financing will receive funding
through the ERP Export Financing Programme. The agreements were
signed on 7 May 2012 in Berlin

RIL is India’s largest private-sector enterprise. Along with oil
and gas production, the Reliance Group primarily specialises in
refineries and the production of petrochemical intermediate and
finished products. The goods manufactured by RIL are used in plastic
production, in packaging (for example PET bottles, plastic boxes) and
in the production process of synthetic fibres such as polyester and
other petrochemical products. The company is a world market leader in
many sectors.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank is in charge of
international project and export finance. It is responsible for
providing financing to support the German and European economy, a
task derived from the legal mandate assigned to KfW Bankengruppe. Its
prime focus is on medium- and long-term lending to boost the export
economy, develop economic and social infrastructure and support
environmental and climate protection projects. KfW IPEX-Bank operates
as a legally independent group subsidiary and plays a major role in
fulfilling the promotional mission of KfW Bankengruppe. It has 531
employees (as of 31 December 2011) and is represented in the key
economic and financial centres throughout the globe.

KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: thomas.krick@kfw.de
Tel. 069 7431-8454, Fax: 069 7431-9409, E-Mail:
Internet: www.kfw-ipex-bank.de

Quelle: http://www.presseportal.de/pm/69662/2249373/kfw-ipex-bank-syndicated-financing-of-usd-2-billion-for-german-plant-engineering-exports-to/api